Grin, a digital orthodontics platform that connects patients with local orthodontists and dentists, has entered into a new $ 10 million oversubscribed seed extension round to continue to develop its technology.
Subscribe to Daily Crunchbase
The New York-based company launched its app and an FDA-approved Grin Scope last year with a funding round of $ 4.3 million. The Grin Scope is a medical device designed to retract the cheeks to allow a full view of a patient’s mouth. The platform provides remote monitoring tools in partnership with local doctors.
Triventures led the round and was joined by Procter & Gamble Oral Care and SpringRock Ventures. With the new round, Grin raised a total of $ 14.3 million, according to data from Crunchbase.
Grin CEO Adam Schulhof, DMD, told Crunchbase News he started the company in 2019 when many patients started coming in after trying orthodontic aligners, but without getting the results they hoped for.
“I started to think about what we were missing with today’s consumers,” said Schulhof. “For some clients it’s more about convenience – they want something immediate and don’t want to come every month.”
Watch out for investments
The orthodontics market is expected to reach nearly $ 10 billion by 2026, and venture capitalists have been paying attention over the past year by funding the following:
Orthodontics today is not what it used to be, in part thanks to companies like SmileDirectClub, and others that appeal directly to consumers, in an attempt to bypass the doctor, Schulhof added. .
Instead, Grin focuses on connecting patient and physician around a product that changes the experience and brings value to the relationship. The company places patients in an orthodontist chair for the initial visit and, depending on the case, the patient may only have to physically visit the office a few times during care, compared to once a month. -he declares.
The app also documents every scan and doctor’s instructions, which improves oral hygiene, he said.
“We have reduced the points of contact, but increased surveillance,” added Schulhof. “With the scans, we can not only see how the teeth are moving, but also highlight dental plaque and potential cavities. We give the patient the opportunity to be interactive with oral care and a link to dentistry.
Grin went to live with thousands of orthodontists sending in 3,000 scopes. Doctors pay a monthly prescription for the application and for the scope. He now “sees” thousands of patients and examines over 2,000 scans every week.
The new funding will allow the company to continue to grow – three states are afraid of being nationwide, Schulhof said. Grin is also strengthening its supplier side so that it can be brought online on the consumer side and be able to better match patients with doctors. It will also invest in technology, including remote monitoring, virtual consultations and other features.
Meanwhile, Netalie Nadivi, general partner of Triventures, said in a statement that her company is looking for innovative entrepreneurs in traditional industries.
“Grin has the expertise, understanding and talent to fundamentally reinvent the way dentistry should be performed,” she added. “With this oversubscribed financing, the company has the capital necessary to evolve its vision and accelerate traction.”
Featured photo of the Grin Scope, courtesy of the Company.
Blogroll illustration: Li-Anne Dias
Stay up to date with recent fundraising rounds, acquisitions and more with the Crunchbase Daily.